Year in review: Frothy prices will simmer down, and we have the key to boosting supply

The construction sector has risen admirably to the challenge of home-building, and would do more if only the government would allow it to do so, writes TJ Cronin of the Society of Chartered Surveyors Ireland

Close to 27,000 new homes could be completed this year, not far off the target of 33,000 set by the government in Housing for All. Picture: Getty Images/EyeEm

We shouldn’t have been that surprised at the way the property market panned out over the past 12 months. Pent up demand, a lack of supply, an increased number of prospective purchasers coming to the market with higher deposits – that’s a heady mix. And of course, it resulted in frothy prices.

Of course, everything is a little easier to read in hindsight. We tend to forget the climate of fear and uncertainty which prevailed ...